Los Angeles Times

AT&T completes purchase of Time Warner, ushering in new era for Warner Bros., CNN and HBO

Time Warner Inc. is no more.

Late Thursday, AT&T Inc. announced that it completed its $85 billion acquisition of Time Warner Inc., just two days after a federal judge in Washington gave the deal the green light. AT&T wasted little time consolidating its hard-fought prize - a blockbuster purchase that instantly transforms the phone company into a major force in Hollywood.

Television networks HBO, TBS, TNT, CNN, Cartoon Network, Turner Classic Movies and

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